Uses bracketed income tax system

Assignment Help Financial Management

Reference no: EM131070589

The Nation of Taxylvania uses a bracketed income tax system. The tax brackets are listed below. Use this information to answer the next three questions. Round your answers to the nearest whole dollar.

income tax rate

0-14,999 10%

15,000-39,999 15%

40,000 and over 20%

What is your effective tax rate? Round your answer to two decimal places.

Reference no: EM131070589

Questions Cloud

Manufactures time series photographic equipment : Photochronograph Corporation (PC) manufactures time series photographic equipment. It is currently at its target debt−equity ratio of 0.75. It’s considering building a new $60 million manufacturing facility. This new plant is expected to generate aft..

Compact fluorescent lamps-make financial sense : Compact fluorescent lamps (CFLs) have become required in recent years, but do they make financial sense? Suppose a typical 60-watt incandescent light bulb costs $.47 and lasts 1,000 hours. A 15-watt CFL, which provides the same light, costs $3.50 and..

Using historical cost-net book value and gross book value : The Caribbean Division of Mega-Entertainment Corporation just started operations. It purchased depreciable assets costing $40 million and having a four-year expected life, after which the assets can be salvaged for $8 million. In addition, the divisi..

Systemically important financial institutions : Miller and Modigliani created the premise for future work on capital structure, precisely the effect of debt on firm value. How is this work related the stress testing mandated for the Systemically Important Financial Institutions (SIFIs)?

Uses bracketed income tax system : The Nation of Taxylvania uses a bracketed income tax system. What is your effective tax rate?

Calculate the EAC for each machine : Vandelay Industries is considering the purchase of a new machine for the production of latex. Machine A costs $3,066,000 and will last for six years. Variable costs are 40 percent of sales, and fixed costs are $210,000 per year. Machine B costs $5,25..

calculate the NPV and BCR for the pool project : The City of Swimfield is building a new pool. The pool will cost $1.5 million to construct in year one. The pool will open in year two and will need another capital investment of $150,000 in year eleven. All costs and benefits accrue at the end of ea..

What is your effective tax rate : The retail sales tax rate in Regressiveland is 6%. Use this information for the next four questions. If you earn $35,000 per year and spend your entire income each year, how much will you pay in sales taxes? what is your effective tax rate?

Their revenues are growing at a rate : The City of Sustainberg started 2016 with $500,000 in cash reserves. In 2016, they expect to spend $1.75 million, and they’ve forecasted $1.8 million in revenues. Their revenues are growing at a rate of 2% per year.

User Account

All Pages